NWG // FINANCIAL INFORMATION //
THE PARENT COMPANY
Note 5 - Salaries , other remuneration and social security contributions
SEK million |
2020 Salaries and other remuneration
Social security contributions
|
Of which pension costs |
2019 Salaries and other remuneration
Social security contributions
|
Of which pension costs |
28.4 13.0 4.1 23.9 12.1 3.9
Of the Parent company ' s pension costs SEK 0.3 ( 0.3 ) million concerns the Board and the CEO .
Salaries and other remuneration divided between Board members , CEO and other employees
SEK million |
2020 Board and CEO |
Of which bonus |
Other employees |
2019 Board and CEO |
Of which bonus |
Other employees |
2.1 0.0 26.4 2.1 0.0 21.8
Board members ' fees 2020 2019
External members of the Parent |
|
|
company ' s Board |
1.4 |
1.2 |
Of which to the Chairman of the Board 0.4 0.4
Remuneration committee for the Parent company has not been elected . The fees paid to the Chairman of the Board and the Board of Directors are in accordance with the decision of the Annual General Meeting .
Conditions of employment for the CEO
Remuneration to the CEO comprises a fixed salary from New Wave Group AB . No board member ' s fees or other remuneration such as bonuses are paid to the CEO . As pension insurance for the CEO , a market-adjusted defined contribution plan is in place . A mutual notice period of six months applies for the CEO and no severence pay is awarded .
Conditions of employment for other senior executives
Other senior executives refers to the four persons employed by the Parent company whom together with the CEO is a part of the Group management . For the structure of the Group management , see pages 54-55 of this report . Renumeration to the other senior executives comprises a fixed salary and in one case bonus based on development in terms of inventory turnover , operating margin and turnover for applicable segment .
No board member fees are paid when senior executives take part of Group companies ' boards . Market-adjusted defined contribution pension plan exist for the other senior executives . Mutual notice period is between three to six months and no severence pay is awarded .
Decision-making process
There is no specially appointed renumeration committee to deal with wages , pension benefits , incentives and other employment-related conditions for the CEO and the Group ' s other senior executives ; these matters are dealt with by the Board as a whole . The salaries of the senior executives are decided by the CEO after consultation with the Chairman of the Board . The Board members ' fees are decided by the Annual General Meeting .
112 // ANNUAL REPORT